if you need to carve out some space, you can take, say your bassline for example and cut out all unnecessary frequencies. make a boost and comb your eq and when you hit frequencies that don't change when you boost them, you can just cut those out since they are useless.
You need all frequencies in a track to make it sound like a nice full mix. The trick is to fill that frequency range with different elements, so like someone above said, cut out all high end from say the sub bass, all low end from the hats, take some off both ends with the snares, high octave leads could have the low end stripped away etc etc.
Place for what?
If u cut and don't add anything is going to sounds like something is missing...
During the whole track or only in some spots of the arrangement?